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Schaeffler calls six series of notes for redemption on Oct. 7
New York, Sept. 7 – Schaeffler AG announced that two financing subsidiaries will redeem a total of six series of outstanding notes.
All of the redemptions will take place on Oct. 7, according to notices.
Schaeffler Holding Finance BV will redeem its €300 million of 6 7/8% / 7 5/8% senior secured PIK toggle notes due 2018 at 101.719% of par, its $400 million of 6 7/8% / 7 5/8% senior secured PIK toggle notes due 2018 at 101.719% of par, its €210 million of 5¾% / 6½% senior secured PIK toggle notes due 2021 at par plus a make-whole premium, its $475 million of 6¼% / 7% senior secured PIK toggle notes due 2019 at par plus a make-whole premium and its $405 million of 6¾% / 7½% senior secured PIK toggle notes due 2022 at par plus a make-whole premium.
Schaeffler Finance BV will redeem its $850 million of 4¾% senior secured notes due 2021 at 103.563% of par.
In each case holders will also receive accrued interest up to but excluding the redemption date.
Schaeffler is a Herzogenaurach, Germany, manufacturer of auto parts and industrial bearings.
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